20: Ex-Bank Trader On Market Dynamics & Order Flow Strategy w/ George Papazov

---

George Papazov was first introduced to trading by his father when he was just a teenager.

In 2001, he developed his first Forex strategy and, after finishing his Finance degree, worked for almost 7 years as a trader at one of the top 6 banks in Canada.

George has since branched out on his own and started Trade Pro Academy to pursue his passion for trading – alongside teaching others to achieve financial freedom through the markets.

---

Podcast Interview

Interview Links

TradeProAcademy.com
George@TradeProAcademy.com
YouTube – TRADEPRO Academy
Facebook – @TradeProAcademy

Recommended Books

Big Debt Crises by Ray Dalio
Option Volatility & Pricing by Sheldon Natenberg
Technical Analysis of Stock Trends by Robert Edwards and John Magee
Technical Analysis Explained by Martin Pring

Broker and Platform

AMPFutures
Sierra Chart
Interactive Brokers

George Walks Me Through His Range Bar Setup

After our interview we sat down at George’s price chart and he walked me through range bars, how he trades them alongside more traditional candle stick charts and then we discussed how it could be possible to see volume in the Forex market.

Key Lessons

• [16:40] No matter what your bias, and information or source of that bias is, every person executes on the same exchange.
• [17:10] Whether you’re a long-term trader, day trader, scalper, institutional, it’s all an order at the end of the day.
• [20:36] The real profit in trading doesn’t come when you’re chasing the profit but when you focus more on managing risk.
• [23:18] Fear of losing a trade or fear of death in a cave a thousand years ago is the same fear.
• [32:15] There’s a lot of contracts in the Futures market that could give you exposure for lower risks with just as much leverage.
• [32:31] If you wake up in 30 years, what role do you think Cryptocurrency will have in society? If you think it’s gonna be a greater role than today, no brainer, keep buying it. It could be a great long-term play.
• [35:02] Making those mistakes then, were necessary for me to be here today. To have learned from them and when you’re doing them at the beginning, any mistake you make is cheap as long as you’re learning.
• [35:40] You’re gonna have tough days, maybe you’ll have tough weeks, but if you’re just dedicated and you really want this, you’re gonna find a way to pile through.
• [37:26] When you’re starting out, start with the mindset.
• [40:39] The fundamentals to me are very important and what drives sentiment. If you look at Technicals alone, you could sort of see the sentiment playing out but you don’t understand what caused that sentiment.
• [42:44] Look at price action, understand what actually happens when you buy a contract. Who’s selling it to you, why they wanna do that? And, learn to read the sentiment in real time as the price ladder is moving.
• [43:00] You look at any indicator, any strategy, any system, if you look at that being plotted on your chart it’s all based on one thing, Price Action.
• [53:26] It’s really nice to cast a wide net and look for strategy and something that miraculously turns it all around, but I think that the solution that you’re looking for is to look within.

---

---

George’s Trading

• He’s a day trader
• He runs 2 portfolios – one for day trading and one for swing trading
• He trades Futures – Oils, S&P500, Index, NASDAQ, Bonds, and Metals
• He goes for 3 to 5 trades a day depending on the volatility of the market

• He’s using Order Flow-based methodology
• He likes looking at aggressive buying and selling
• He risks 5 ticks on S&P500 for every trade and goes for a profit of 8
• He only needs 40% win rate to break even for the day
• His average win rate ratio is 70%
• He only has a maximum of 2 trades at a time
• He uses the Wall Street Journal, Seeking Alpha, and Zero Hedge
• He uses both the Fundamental and the Technical analysis
• One of his favorite setups is a pull-back to simple VWAP (Volume-Weighted Average Price)

---